Profire Ene Company profile
About Profire Energy, Inc.
Profire Energy, Inc. is a technology company. The Company is focused in the upstream, midstream and downstream transmission segments of the oil and gas industry. It specializes in the engineering and design of burner and combustion management systems and solutions. The Company’s applications include combustors, enclosed flares, gas production units, treaters, glycol and amine reboiler, indirect line-heaters, heated tanks, and process heaters that require heat as part of its production and or processing functions. Its burner-management systems ignite, monitor, and manage pilot and burner systems that are utilized in its process. Its technology enables remote operation, reducing the need for employee interaction with the appliance's burner for purposes, such as re-ignition or temperature monitoring. The Company's systems and solutions are used by exploration and production companies (E&P), midstream operators, pipeline operators, as well as downstream transmission and utility providers.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Profire Energy, Inc. revenues increased 23% to $26.4M. Net loss decreased 52% to $1.1M. Revenues reflect United States segment increase of 17% to $21M, Canada segment increase of 53% to $5.4M. Lower net loss reflects Research and development decrease of 14% to $1.1M (expense), Other income (expense) increase from $67K (expense) to $9K (income).
Equity composition
Common Stock $.001 Par, 02/11, 100M auth., 45,000,000 issd. Insiders & stakeholders own 78.64%. 1/09, Name changed from The FlooringZone, Inc.
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